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Friday 11 September 2009

On a morning UK news I have managed to gain some pips, which I managed to waste on attempts to reenter market. Pound did not break it's highs @ 1,6741 and ranged for the rest of the day.

Situation was quite different on USDJPY past Prelim UoM Consumer Sentiment. I was not sure what will be exact direction after release, I was expecting either risk appetite driven depreciation of the pair or significant up [both if news were better than expected]. Finally I decided to trade daily options betting on both directions, and that was just perfect [I assume that it was luck based gains as driven by JPY appreciation what I did not predicted].

To sum things up, DOW didn't managed to break last week high, gold finished week above a 1000 with new high @ 1011 JPY skyrockets, dollar's flat. However it's not even correction, It's just a flat friday. If monday will bring new highs on dollar crosses I will think of buying like crazy.
China expanded its export, USD decreaset overnight, GU broke 1,67.
For PPI i see strong buing oportunity as long as GU will manage to retrace below 1,67. 1,6686 is nice las day high to bounce from. Otherwise if GU left on its current level I would buy breakout of today high at 1,6733 with some tight stop loss.
If GU rised all morning, I would rather stay away. [this pair in my opinion badly needs some pullback].
Everything seems to be right. Treade balance felt more than expected, dow goes up, USD goes down, and what's more gold went a bit down. Did not break recent highs [what S&P did and DOW is quite close to it].
Tommorow GU deserved some proper retracement after todays gains hopefully before PPI input what would give nice signal to buy more and what's more important that would give nice stop area for trading.
For tommorow i hope to see some more movement for my USDJPY pair as I partially hedget my put option by spot order [so it's just my wish, nothing tradable ;)].

That's all for today :)

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